Changing your default Application Currency would affect all rates, reservations and the channel connections. To make sure the currency is updated correctly without any issues, only Cloudbeds team can perform this change.
This article explains the risks and guidelines to follow before requesting the change.
We highly recommend you only change this when first setting up your account. After setup, all previous reservations will be in the original currency.
Risks of the change you should be aware of:
- Changing your currency setup on Cloudbeds PMS will only change the currency symbol, all of your existing reservation values will not change.
- Example: Prior to currency change = USD$ 20, post-currency change = EUR$ 20.
- We strongly recommend that channel closeouts are created and temporary allotment for your Cloudbeds Booking Engine is brought to “zero”, prior to the currency change. That way you can make the necessary adjustments to the room rates before sending them to the connected channels, avoiding the update of incorrect rates due to the currency change.
These articles provide detailed guidance on how to set up the closeouts and adjust the allotment for Cloudbeds Booking Engine:
3. After the change is made, all base rates, rate plans, and items will have outdated prices, make sure to update them to the correct values in the new currency, and prior to removing the channels’ closeouts and readjusting the allotments for Cloudbeds Booking Engine.
4. Reports: Values within reports will remain the same, only the currency symbol will change.
- Example: Changing currency from EUR (€) to USD ($), if your reports were previously showing a total revenue of €100.00, the total revenue would now be $100.00.
Our system will not convert any amount when the default currency is changed. If you still need to do this change, you must update the currency manually everywhere in the system, such as:
- base rates and rate plans;
- extra guest charges;
- Price Differentials on Availability Matrix (if not the percentage value set);
- taxes and fees (if flat rate set);
- deposit (if fixed amount set);
- items and services price;
- PIE Price Limits;
- PIE Rules;
- Whistle Upsell Products;
- Whistle Delivery Fee.
You may not use all the functionality mentioned above, but you have to update all the pricing in the system where you have it set.
If you agree with the risks above and would like to change your currency, contact our Support team support@cloudbeds.com.
